The markets are calm this morning as volatility in the market has retreated somehow. Although September is a month notorious for big sell-offs, many bulls are hopeful that this year it will be different as the Fed could potentially remain accommodative.
Among the stocks trending this Thursday morning are Goodyear Tire & Rubber Co (NASDAQ:GT), Pandora Media Inc (NYSE:P), Domino’s Pizza, Inc. (NYSE:DPZ), Facebook Inc (NASDAQ:FB), and Boeing Co (NYSE:BA). Let’s dive in and take a closer look at the five companies and see how the smart money investors from our database are positioned towards them.
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Goodyear Tire & Rubber Co (NASDAQ:GT) is in the spotlight after the company hiked its quarterly dividend by 43% to $0.1 per share. In addition, the management set a financial target of attaining up to $5 billion in free cash flow through 2020 and to return up to $4 billion of that to shareholders. Goodyear’s management also reaffirmed previously-announced 2016 financial targets. Given the low oil prices, consumers are driving more and tires are wearing out faster. Phill Gross and Robert Atchinson‘s Adage Capital Management owned almost 8.5 million shares in Goodyear Tire & Rubber Co (NASDAQ:GT) at the end of June, up by 29% from the end of March.
Pandora Media Inc (NYSE:P) shares are in the green today after the internet music streamer introduced Pandora Plus, the company’s improved version of its original Pandora One product. In contrast to Pandora One’s limited number of skips, Pandora Plus will allow users to skip unlimited songs and includes an offline mode that will help users listen to music if their connection disconnects. Pandora bulls hope the product can help the company win market share against Spotify, one of the current market leaders. Moreover, lately some bulls also have expressed hope that Pandora eventually sells itself. A total of 46 funds from our database had a bullish position in Pandora Media Inc (NYSE:P) at the end of the second quarter, up by 11 funds from the previous quarter.
On the next page, we find out why Domino’s Pizza, Facebook, and Boeing Co are trending.